Asia Markets Mixed

Asia-Pacific markets were mixed on Wednesday, as investors digested a hotter-than-expected inflation reading for April. Concerns over higher oil prices and the ongoing Middle East conflict also weighed on markets. President Donald Trump commented on the US-Iran conflict, calling the month-old ceasefire 'unbelievably weak'.

Market Performance

South Korea's Kospi reversed losses to gain 2.63% at 7,844.01, while the small-cap Kosdaq slipped 0.20% at 1,176.93. Japan's Nikkei 225 added 0.84% at 63,272.11, and the Topix rose 1.20% at 3,919.48. Australia's ASX slipped 0.46% at 8,630.40. China's CSI 300 gained 1.02%, while Hong Kong's Hang Seng index was 0.15% higher.

Oil Prices and Geopolitics

Oil futures extended losses, with West Texas Intermediate futures for June 0.97% lower at $101.15 per barrel. Brent crude futures for July fell 0.80% at $106.90 per barrel. The Trump administration's stance on Iran was also in focus, with Defense Secretary Pete Hegseth saying Trump doesn't need congressional approval to restart strikes on Iran.

Key points

• Asia-Pacific markets were mixed on Wednesday amid inflation and Iran tensions.
• President Donald Trump called the US-Iran ceasefire 'unbelievably weak' and 'on massive life support'.
• South Korea's Kospi gained 2.63% at 7,844.01.
• West Texas Intermediate futures for June were 0.97% lower at $101.15 per barrel.
• A meeting between Trump and Chinese President Xi Jinping is upcoming, with trade expected to be discussed.
• Defense Secretary Pete Hegseth said Trump doesn't need congressional approval to restart strikes on Iran.